Market Profile
- Thread starter Enivid
- Start date
- Watchers 71
This book is a good place to start:
https://www.earnforex.com/forex-e-books/forex-market/Market_Profile_Basics.pdf
https://www.earnforex.com/forex-e-books/forex-market/Market_Profile_Basics.pdf
Do you by any chance have this for MT5?Ok, I worked a little more on my version of your MarketProfile indicator. Beside mentioned things above I
- added an OHCL Bar
- added an Initial Balance Bar
- mark Virgin POC / Median lines
Attached is a comparison screenshot from the riv_ay-TPOChart.v102-6 indicator (top) and my variant of your MarketProfile indicator (v1.08.1j).
View attachment 12924
Not tested enough so use it at your own risk
Sorry, my broker has no MT5 yet so I didn't have a look at the diffs from the base file I used for my changes (v1.08 mt4 version from Enivid vs. the mt5 version from Enivid)Do you by any chance have this for MT5?
Hi To All,
I recently added market profile indicator
to my MT4 but its not visible on my chart?
Please advice!
I recently added market profile indicator
to my MT4 but its not visible on my chart?
Please advice!
What does it output to the Experts tab when you try to attach it?
I see it now between M5 to M30. Its not visible in all time frame, mine is set to DAILY.
Thanks...
I just want to ask what is the best setting Daily, Weekly or Monthly if my trade is swing?
Thanks...
I just want to ask what is the best setting Daily, Weekly or Monthly if my trade is swing?
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If you want to see Daily session market profiles, you have to attach the indicator to a chart with timeframe between M5 and M30. If you want to analyze a higher timeframe chart, you should use Weekly or Monthly sessions.
That's the question only you can answer. But I guess Weekly should work well for a swing trader.
Yes, indeed. Deleting and recreating all the chart objects can take up a lot of time, especially when a lower timeframe (from the allowed range) is used and when there are several sessions to recalculate.
I was impressed with this indicator the price of EURJPY just bounce off the Monthly low value AREA.
Although my MT4 is not responding as i change timeframes.I just plot the POC , value area then remove it on my chart as a workaround. Thanks.
I am glad it works for you!
Could you please be more specific about which timeframes you are switching from and to and what session is you MP indicators is set to? Thanks!
Nice indicator. Just started playing with it and so far I´m seeing lots of good movement based on the POCs. But......several basic operations using MP cause my MT4 to freeze, with "no response" status message.
For example, I was viewing the Daily MP on a 5 minute chart with 5 look back days. Since it was slow to navigate on the chart, etc, I opended the MP indicator and changed the look back to 2. When clicking to accept, it froze. Another time I just tried to change from the 30 minute time frame to a 5 minute and it froze. Things like that....If I close MT4 and restart, it is still stuck, so I have to go in the indicator folder, delete the MP files and restart MT4. Then I have to install them back in again. Any ideas?
For example, I was viewing the Daily MP on a 5 minute chart with 5 look back days. Since it was slow to navigate on the chart, etc, I opended the MP indicator and changed the look back to 2. When clicking to accept, it froze. Another time I just tried to change from the 30 minute time frame to a 5 minute and it froze. Things like that....If I close MT4 and restart, it is still stuck, so I have to go in the indicator folder, delete the MP files and restart MT4. Then I have to install them back in again. Any ideas?
Unfortunately, I cannot recreate this faulty behavior. Are you using MT4 on bare Windows (which version, by the way?) or on Linux+Wine or Mac+Parallels?
Also, which currency pair are you using it on? How many decimal places in its quotes. If you are using it on something with 5 or more decimal places and do not increase PointMultiplier input parameter, then the indicator becomes very resource intensive and might be too much for your hardware. As a workaround, try setting PointMultiplier to 10 or more.
Also, which currency pair are you using it on? How many decimal places in its quotes. If you are using it on something with 5 or more decimal places and do not increase PointMultiplier input parameter, then the indicator becomes very resource intensive and might be too much for your hardware. As a workaround, try setting PointMultiplier to 10 or more.
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Thanks for responding. Just Windows 7 Home Version. The last time it froze today I was on US500 (S&P 500 CFD) with values in this format "2705.59", running the Daily profile, seeing it on a 30 minute chart. I changed the chart to 5 minutes and it froze. MetaTrader 4, version 4.00, build 1090.
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It takes several seconds to switch on my PC, but it does not result and hanged terminal. Other settings on the indicator are default?
I just did a test. Only 1 chart, opened US500, with no other indicator except MP. Loaded it with default settings. Can barely scroll the chart, it´s so slow. Tried changing time periods from 30 to 15 to 5. Each time it hangs for a long time before changing, now it froze for a while. Ok, it came back. I deleted the MP indicator and now the chart is "normal", no lagging, no freeezing.
My only recommendation in this case is to increase the PointMultiplier input parameter - at least to 2.
